AFTER a dramatic plunge in the price of Bitcoin on Thursday, the cryptocurrency appears to have stabilised, and even began to see a slight recovery in its value.

Bitcoin's price has stablised after a sudden drop in value on Thursday (Image: GETTY)

Cryptocurrencies are notorious for their volatility but had been experiencing several months of stable trading before an unexpected drop in value on Thursday.

As much as five percent of the cryptocurrency’s value was lost in a matter of just minutes.

The digital coinage hit a low of $6,180 (£4698) on Thursday evening before a small recovery in price early Friday morning which has since seen the value of Bitcoin stabilise around the $6,2350 (£47400) mark.

However, despite the day of stable trading, there have been warnings the cryptocurrency could be set to experience a sudden further fall in value.